I'm still wrapping my head around folklores too. In my drafting ideas I called them a Journey, which I may still return to, but for the argot of Wanderhome, I think folklore makes sense.
Your writing it out helps me think about it too, so great. I feel like by experiencing a folklore (like any of the festivals included), the event creates a new perspective available for players, kith and kin, and natures to be viewed in a different way and provide impact towards those changes. That's the direction I'm going with mine at least, though I hope to have some specific ways of how playbooks or mantles of playbooks can influence that more directly.
Specifically, I'm trying to introduce a very introspective play style that may or may not work in Wanderhome (I think it can or I wouldn't be trying--but it might make things weird too). Best way to know is if the writing makes the play work and try it out.